…at N70 ($0.0459) per share
A total of 2.29 billion shares of Guaranty Trust Holding Company Plc (GTCO) will be issued in US dollars at an offer price of N70 per share ($0.0459), raising gross proceeds of $105million.
GTCO shares traded at N82.75 per share on Thursday, nearing its 52 week high of N84.95 as against 52-week low of N43.
GTCO disclosed this in a July 3 announcement of the successful pricing of its fully marketed offering on London Stock Exchange (LSE).
With the offering announcement, the Company also gave notice of its intention to cancel the listing of its existing GDRs on the certificates representing certain securities (depositary receipts).
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Citigroup Global Markets Limited acted as Sole Global Coordinator and Sole Bookrunner in connection with the Offering.
In place of the GDR listing, the Company intends for all of the ordinary shares of the Company (the Shares) to be admitted to the equity shares (international commercial companies secondary listing) category of the Official List of the United Kingdom Financial Conduct Authority (FCA) and to trading on the main market for listed securities of the London Stock Exchange.
“The Offering is conditional upon, amongst other things, Admission becoming effective and upon the
Underwriting Agreement not being terminated in accordance with its terms.
“The Company is not making any arrangements for dealing prior to Admission in respect of the Shares
being issued in connection with the Offering.
“It is expected that Admission and unconditional dealing in the Shares will become effective on or before 8.00 a.m.(UK time) on 9 July 2025 under the ticker “GTHC”. Following the cancellation of the GDRs listing, the Company intends to change the ticker symbol for the Shares from “GTHC” to “GTCO” and will issue a separate announcement in due course to that effect.
“Immediately following Admission, the Company’s issued share capital will be 36,425,229,514 Shares.
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The number of Shares in public hands will be 36,386,972,252 Shares or approximately 99.9 percent of the Company’s issued share capital.
The cancellation of the GDR listing is expected to take effect no later than 31 July 2025. Full details of the Offering and Admission will be included in the Prospectus, which is expected to be published on Friday Julu 4, following the FCA approval, and will be available on the Company’s website.
Iheanyi Nwachukwu
Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos.
Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).
